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HomeNewsHeidrick & Struggles Q1 2024: Growth Momentum and Strategic Initiatives

Heidrick & Struggles Q1 2024: Growth Momentum and Strategic Initiatives

Heidrick & Struggles' Q1 2024: Growth Momentum and Strategic Initiatives
Heidrick & Struggles Reports First Quarter 2024 Results

Heidrick & Struggles International, Inc. presents its Q1 2024 financial results, showcasing notable achievements in revenue growth and strategic advancements.

  1. Financial Performance:
    • Net revenue increased by 11% year over year, reaching $265.2 million.
    • Adjusted EBITDA stood at $25.9 million, with a margin of 9.8%.
    • Net income amounted to $14.0 million, with diluted earnings per share at $0.67.
  2. CEO Insights:
    • CEO Tom Monahan emphasizes the significance of exceptional leadership in driving corporate performance.
    • Strategic focus on leveraging intellectual property, brand trust, and relationships to create value.
  3. Segment Analysis:
    • Executive Search, On-Demand Talent, and Heidrick Consulting showcased revenue growth across different regions.
    • Executive Search net revenue increased by 5.8%, with growth in the Americas and Europe, offset by a decline in Asia Pacific.
  4. Operational Highlights:
    • Productivity metrics, consultant count, and average revenue per executive search provide insights into operational efficiency.
    • Acquisitions of Atreus and businessfourzero contributed to revenue growth in On-Demand Talent and Heidrick Consulting.
  5. Financial Overview:
    • Detailed analysis of consolidated net revenue, adjusted EBITDA, and net income.
    • Breakdown of expenses including salaries and benefits, general and administrative expenses, and research and development.
  6. Dividend Declaration:
    • The Board of Directors declared a cash dividend of $0.15 per share for Q1 2024.
  7. 2024 Second Quarter Outlook:
    • Anticipated consolidated net revenue for Q2 2024, considering various external and internal factors impacting the business.

Heidrick & Struggles’ Q1 2024 reflects robust financial performance, strategic initiatives, and a forward-looking approach to addressing client needs and creating value for stakeholders.